Feb 22, 2017

CBDT Issues Standard Operating Procedure for Cash Transactions of Taxpayers

Post demonetisation of Rs. 500 and Rs. 1000 notes on November 8, 2016, several malpractices has been noticed. The Income Tax Department is...

Feb 15, 2017

CBDT Issued 1.42 Lakh Crore Income Tax Refund Upto 10 February 2017

The Centralised Processing Centre (CPC) of the Income Tax Department (ITD) has already processed over 4.19 crore Income Tax Returns (ITRs)...

Feb 12, 2017

Income Tax Rule 40A(3) for Cash Payment Disallowance Reduced to 10000

Finance Minister Mr. Arun Jaitley in his budget speech reduced income tax cash payment limit under section 40 A (3) from Rs. 20000 to Rs. ...

Feb 11, 2017

Direct Tax Collection for January Show Growth of 10.79%

The Direct tax collections up to January 2017 show a consistent growth trend. The collection net of refunds stands at Rs. 5.82 lakh crore ...

Feb 7, 2017

CBDT Signs Another Four Advance Pricing Agreements

The Central Board of Direct Taxes (CBDT) has entered into four more unilateral Advance Pricing Agreements (APAs) on 6th February, 2017. ...

India and Austria Signs Double Tax Avoidance Agreement

India and Austria signed a Protocol amending the existing Convention between the two countries for Avoidance of Double Taxation and the Pr...

Feb 1, 2017

Big Annoucments in Busget 2017 fpr Individual and Corporates

For Individual the big annoucements in union budget 2017 are as follows. 1- The maximum amount of cash donation for political party ...

Highlights of Tax Proposal of Union Budget 2017

The Union Budget 2017 was laid before the Parliament today by the Hon’ble Finance Minister of India. The salient features of Direct Tax pr...